Tokyo Electric Power Company Cuts Workers' Wages
Tokyo Electric Power Company workers have accepted a significant pay cut as a way to compensate for the nuclear catastrophe caused by the company's damaged nuclear plant, according to TEPCO’s union.
Tepco continues its efforts to try to stop leaks from the Fukushima power plant after its cooling systems shut down due to the massive earthquake and tsunami on March 11.
While most managers and workers would have a pay cut of about 25 and 20 percent, respectively, top officials in the company could lose 50 percent of their paycheck. The cutback will save about 54 billion yen a year, the company states.
Meanwhile, local farmers staged protests outside Tepco headquarters, demanding compensation for the countless earnings lost from contaminated produce and milk. Bloomberg reports that the 300 farmers parked trucks carrying cows and carried boxes of leafy vegetables. They also sent a delegate into the offices to present their demands.